Morgan Creek Digital Makes $1M Buffett-Style Bet on Crypto to Beat Stocks
Cryptovest
Published Dec 10, 2018 04:05AM ET
Updated Dec 10, 2018 05:21AM ET
Morgan Creek Digital Makes $1M Buffett-Style Bet on Crypto to Beat Stocks
Digital asset investment firm Morgan Creek Digital has placed a $1 million bet that its Bitcoin-focused Digital Asset Index Fund will outperform the S&P 500 over the next decade, CNBC reported . Dubbed Buffett Bet 2.0, the challenge mimics the famous wager by one of the world’s most notable critics, Warren Buffett.
Morgan Creek Digital believes that its index of ten major cryptocurrencies — Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Monero (XMR), Zcash (ZEC), Dash (DASH), NEM (NEM) and IOTA (MIOTA) — will prove to be a better investment than the stocks of the 500 biggest US publicly traded companies.
The bet will begin on January 1, 2019 and conclude in 2029. It is expected to be taken by “someone who is bullish on the S&P 50...
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